USPS reports second-quarter financial results

The Postal Service has reported its financial results for fiscal 2017’s second quarter (Jan. 1-March 31, 2017). Here are some highlights: • Controllable income. USPS posted controllable income of $12 million for the second quarter, below the $576 million it posted during the same quarter last year. Controllable income describes net income (or loss) that…

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USPS posts net loss of approximately $200 million for FY 2017’s first quarter

Excluding the effects of a $1.7 billion change in its workers’ compensation liability due to fluctuations in interest rates, the Postal Service has posted a net loss of approximately $200 million for fiscal 2017’s first quarter (Oct. 1-Dec. 31, 2016). USPS also reported that net income for the quarter was approximately $1.4 billion. Controllable income…

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USPS financial results: Second-quarter revenue grew 4.7 percent

The Postal Service has reported operating revenue of $17.7 billion for fiscal 2016’s second quarter (Jan. 1-March 31, 2016), an increase of $788 million — or 4.7 percent — compared to the same period one year earlier. The increase was attributed to an 11.4 percent increase in package volumes and pricing strategies. “While we have…

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USPS OIG Blog: Finances Stabilize, or Maybe Not

It’s hard to know whether the U.S. Postal Service should have as its theme song “We’re in the Money” or “Brother, Can You Spare a Dime?” Its just-released financial results for the first quarter of fiscal 2016 suggest both are accurate – depending on how you read the statements. Spurred by record volume of holiday…

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USPS 3rd-quarter net loss reported, Shipping revenue continues to rise

The Postal Service has reported a net loss of $586 million during fiscal 2015’s third quarter (April 1-June 30) compared to a $2 billion loss during the same period one year earlier. Operating revenue for the quarter was $16.5 billion, essentially unchanged from a year ago. Meanwhile, although First-Class Mail volumes fell 2.6 percent and…

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USPS reports $586 million net loss in Q3

Press Release – August 10, 2015 • Operating revenue of $16.5 billion is level with the same quarter last year • Shipping and package revenue increase of 10.6 percent • Productivity improvements continue, somewhat offsetting inflationary cost pressures WASHINGTON — The U.S. Postal Service reported a net loss of $586 million for the third quarter…

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